SET Drops 14pts as Selloff of Big-Cap Stocks Hit Market
Thai stock market fell over 13 points in the afternoon session of Thursday, September 30, 2021, following a major selloff in big-cap stocks such as AOT, SCB, KBANK, TRUE, and BAY
The Thai stock market fell over 13 points in the afternoon session of Thursday, September 30, 2021, following a major selloff in big-cap stocks such as AOT, SCB, KBANK, TRUE, and BAY.
As of 15:50 local time in Thailand, the SET Index had fallen 13.51 points (-0.84%) to 1,603.47 points, with a trading value of 69.89 billion baht.
This is likely to be a profit-taking movement on banking stock after the price has risen for a while.
Kasikorn Securities recommended investors to accumulate Reopening Plays during price declines, as well as COVID Plays that are expected to maintain their momentum despite COVID situation having improved and a weak baht. KCE, ASIAN, TU, and HANA are the top picks.
Kasikorn anticipates increased volatility in the Thai market in the short term, as well as a more sensitive movement. Kasikorn, on the other hand, continues to favor stock investing and believes that if a correction occurs, it presents an opportunity for investment.
